BRIDGEePORT LOGISTICS CENTER PERTH AMBOY, NEW JERSEY - - PowerPoint PPT Presentation

BRIDGEePORT LOGISTICS CENTER • PERTH AMBOY, NEW JERSEY BRIDGEePORT LOGISTICS CENTER • PERTH AMBOY, NEW JERSEY

BRIDGEePORT LOGISTICS CENTER • PERTH AMBOY, NEW JERSEY BRIDGEePORT LOGISTICS CENTER • PERTH AMBOY, NEW JERSEY

Gateway Market Location

The site provides direct access to the largest and most concentrated consumer base in the country. New Jersey ranks as the third largest industrial market in the United States due to the vast logistical infrastructure network of interstate highways, deep water cargo ports, air freight and rail capabilities servicing the entire region.

BRIDGEePORT LOGISTICS CENTER • PERTH AMBOY, NEW JERSEY BRIDGEePORT LOGISTICS CENTER • PERTH AMBOY, NEW JERSEY

BRIDGE & TUNNEL CROSSINGS

GEORGE WASHINGTON BRIDGE Permitted trucks must use the upper level. Height limit 14 ft; width limit 8 ft. 6 in. LINCOLN TUNNEL No trucks permitted in the center tube of the Lincoln Tunnel. HOLLAND TUNNEL 2 and 3 axles, single unit trucks only. No tractor-trailers and no vehicles with 4 or more axles. BAYONNE BRIDGE No oversize and/or overweight trucks or special vehicles until further notice. This is necessary to accommodate the ongoing Bayonne Bridge construction. GOETHALS BRIDGE No restrictions. BROOKLYN BATTERY TUNNEL All trucks may use the Brooklyn Battery Tunnel in either direction with a maximum gross weight not exceeding 7,000 lbs. VERRAZANO-NARROWS BRIDGE All trucks may use the Verrazano-Narrows Bridge in either direction with a maximum gross weight not exceeding 7,000 lbs. OUTERBRIDGE CROSSING No restrictions.

BRIDGEePORT LOGISTICS CENTER • PERTH AMBOY, NEW JERSEY BRIDGEePORT LOGISTICS CENTER • PERTH AMBOY, NEW JERSEY BUILDING A 1000 HIGH STREET BUILDING B 960 HIGH STREET BUILDING C 980 HIGH STREET Leasable Area 354,302 SF 220,245 SF 718,219 SF Building Dimensions 325' x 1,090' 300' x 734' 540' x 1,330' Ceiling Height 36' 36' 36' Bay Spacing 44’5” x 55’ w/60’ Speed Bays 44’5” x 55’ w/60’ Speed Bays 44’5” x 55’ w/60’ Speed Bays Truck Courts 130' 130' 130' Car Parking 218 112 377 Trailer Parking 117 112 275 Loading Doors 69 34 172 Finished Pad Elevation 18' 16' 21' Sprinkler System ESFR ESFR ESFR

BRIDGEePORT LOGISTICS CENTER • PERTH AMBOY, NEW JERSEY BRIDGEePORT LOGISTICS CENTER • PERTH AMBOY, NEW JERSEY

Perth Amboy Original Conditions

BRIDGEePORT LOGISTICS CENTER • PERTH AMBOY, NEW JERSEY BRIDGEePORT LOGISTICS CENTER • PERTH AMBOY, NEW JERSEY

Perth Amboy Existing Conditions

BRIDGEePORT LOGISTICS CENTER • PERTH AMBOY, NEW JERSEY BRIDGEePORT LOGISTICS CENTER • PERTH AMBOY, NEW JERSEY

Existing Building Pads

BRIDGEePORT LOGISTICS CENTER • PERTH AMBOY, NEW JERSEY BRIDGEePORT LOGISTICS CENTER • PERTH AMBOY, NEW JERSEY

Site Capping Plan

BRIDGEePORT LOGISTICS CENTER • PERTH AMBOY, NEW JERSEY BRIDGEePORT LOGISTICS CENTER • PERTH AMBOY, NEW JERSEY

Current Market Statistics

New Jersey & Pennsylvania

Market Comparison

Q1 Big-Box Leasing Activity Transactions (NJ)

Building Address Tenant Name Size (s.f.) Deal Type Landlord 380 Middlesex Ave, Carteret Amazon 809,762 New Prologis 71 Blanchard St, Newark Fabuwood 706,083 New The Morris Companies 25-53 Talmadge Rd, Edison Fedex Smartpost 695,000 New Prologis 1016 W Edgar Rd, Linden NJ Blue Apron 494,395 New Duke Realty

Q1 Big-Box Leasing Activity Transactions (PA+SNJ)

Building Address Tenant Name Size (s.f.) Deal Type Landlord 309 Cedar Lane, Florence NJ Amazon 613,920 New Liberty Property Trust 41 Martha Drive, Breinigsville PA Samsung Electronics 500,400 New Dermody Properties 9670 West Hills Court, Kutztown PA Behr Paints 241,852 New Watson Land Company 8014 Industrial Blvd, Breinigsville PA Trinity Glass International, Inc. 203,500 Renewal Liberty Property Trust Northern / Central New Jersey Pennsylvania / Southern New Jersey Market Size (s.f.) 618,211,091 794,691,193 Vacancy (%) 5.9% 8.3% Availilblity (%) 9.3% 13.1% Q1 Net Absorption (s.f.) 1,351,145 2,171,222 2015 Net Absorption (s.f.) 7,582,768 12,905,470 Average Asking Rental Rate (p.s.f) $6.05 $4.18 Year-to-date Deliveries (s.f.) 1,342,629 3,784,536 Current Under Construction (s.f.) 2,911,886 12,491,144

BRIDGEePORT LOGISTICS CENTER • PERTH AMBOY, NEW JERSEY BRIDGEePORT LOGISTICS CENTER • PERTH AMBOY, NEW JERSEY

Current Investment Summary

PROJECT STATISTICS

Address Perth Amboy, New Jersey Land Size 103.00 Acres 4,486,680 SF Number of Buildings Square Feet FAR - 29% 1,292,650 Total Project Costs Per SF CAPITAL USES Total Costs 155,623,506 $ $120.39 psf CAPITAL SOURCES Equity Investment 54,555,518 $ (35.06%) Mezzanine Investment 21,700,000 $ (13.94%) Construction Loan 79,367,988 $ (51.00%) Total Project Costs 155,623,506 $ 100.00% DEVELOPMENT TIMELINE Project Start August-15 (Mo. 1) Construction Start October-15 (Mo. 3) Construction End October-16 (Mo. 15) RENT ASSUMPTIONS Disposition Rent / YOC $7.66 6.36% PROJECT DISPOSITION Vacancy Factor Assumption 0.00% NOI at Sale Exit Cap Rate Disposition Price $198,050,250 $153.21 psf PROJECT RETURNS Levered Economics Project LP GP Contributions $54,555,518 $54,555,518 $0 Distributions $94,494,223 $87,726,221 $6,768,002 Net Profit $39,938,705 $33,170,703 $6,768,002 IRR 20.82% 17.77% N/A Bridge Development Partners 5.00%

ePort Investment Summary

3 $120.39 $9,902,512

BRIDGEePORT LOGISTICS CENTER • PERTH AMBOY, NEW JERSEY BRIDGEePORT LOGISTICS CENTER • PERTH AMBOY, NEW JERSEY

Site Plan

BRIDGEePORT LOGISTICS CENTER • PERTH AMBOY, NEW JERSEY BRIDGEePORT LOGISTICS CENTER • PERTH AMBOY, NEW JERSEY

ePort I & ePort II

BRIDGEePORT LOGISTICS CENTER • PERTH AMBOY, NEW JERSEY BRIDGEePORT LOGISTICS CENTER • PERTH AMBOY, NEW JERSEY

BridgePort Logistics Center